Behind Apollo’s Real Assets Division
Economic income rises
Between 2Q16 and 2Q17, Apollo Global Management’s (APO) real assets division witnessed an increase in economic income to $8.7 million from $2.6 million. Its total revenue rose to $26.4 million from $17.3 million. This substantial increase was due to carried interest income and management fees. In 2Q17, the division’s US real estate equity funds managed to deliver a 5% gross return.
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Apollo’s real assets division saw realizations of $516 million in 2Q17, and has seen $1.9 billion in realizations in the last 12 months. The division managed to deploy $746 million in 2Q17, and has deployed $3.3 billion in the last 12 months. In 2Q17, the division’s fee-related earnings rose to $6.3 million from $3.7 million in 2Q16.
Total capital deployments
Apollo managed to deploy $2.6 billion in 2Q17. Alternative asset manager (XLF) peers’ deployments were as follows: